California

CBRE Brokers $5.2M Sale of Shopping Center in San Diego’s Point Loma

by Nellie Day January 19, 2018

SAN DIEGO — CBRE has arranged the sale of Midway Square, a multi-tenant shopping center located at 3112 Midway Drive in San Diego’s Point Loma district. Winston Square LLC sold the property to Midway Square LLC for $5.2 million. Reg Kobzi, Sam Alison, Mike Philbin and Amar Goli of CBRE represented the seller, while Andrew Slade of CIRE Partners represented the buyer in the deal. At the time of sale, the property was 100 percent leased. Express Time, Auto Serve Center, Suspension Plus and Smog Creek occupy the 15,271-square-foot, single-level retail center.

January 19, 2018

California Restaurant Retail Western

Big Al’s Leases 46,000 SF of Retail Space at McCarthy Ranch Marketplace in Silicon Valley

by Nellie Day January 19, 2018

MILPITAS, CALIF. — Big Al’s, a sports bar and entertainment chain, has signed a lease for 46,000 square feet of retail space at McCarthy Ranch Marketplace in Milpitas in Silicon Valley. TMS McCarthy LP is the landlord. Located at 15 Ranch Drive, Big Al’s Silicon Valley will be the company’s fifth center and second in California. The store is slated to open for business in late 2018.

January 19, 2018

California Multifamily Western

Jamison Purchases Multifamily Development Site in Koreatown for $14M

by Nellie Day January 18, 2018

LOS ANGELES — Jamison has purchased a grouping of parcels at the corner of 8th Street and Harvard Boulevard in Los Angeles’ Koreatown neighborhood for $14 million. The local privately held real estate investment and operating company plans to demolish the vacant apartment and commercial buildings on the site to make way for a new multifamily development. The plot is fully entitled for 131 residential units and 4,150 square feet of retail. CBRE’s Laurie Lustig-Bower and Kamran Paydar represented the seller, Harvard 826 Property LLC, a private investor owned by Hersel Neman and Robert Neman.

January 18, 2018

California Industrial Western

Sunshine Metals Leases 68,394 SF Industrial Warehouse in Corona, California

by Nellie Day January 18, 2018

CORONA, CALIF. — Sunshine Metals has signed an eight-year lease for a 68,394-square-foot freestanding industrial warehouse in Corona. The property is located at 1228 Sherborn St. The lease is valued at $4 million. Sunshine Metals is relocating from a previous Fullerton outpost. The company chose the building based upon its upgraded amenities and ease of access throughout Southern California, as well as to the ports of Los Angeles and Long Beach that the Inland Empire provides. Chris Migliori of DAUM Commercial Real Estate Services represented the landlord, Excel Business Park, in this transaction. JLL’s Cameron Driscoll and Luke McDaniel represented Sunshine Metals.

January 18, 2018

California Industrial Western

Western Realco Sells 181,069 SF Industrial Building for $32.5M in Fullerton, California

by Nellie Day January 17, 2018

FULLERTON, CALIF. — Western Realco has sold a 181,069-square-foot industrial building in Fullerton. Brad Rambo and Associates purchased the Class A property for $32.5 million. The building is located at 4150 W. Palm St. Western Realco developed the property on a speculative basis after purchasing the site from LBA in 2017 and razing a vacant 88,000-square-foot office building. CBRE’s Sean Ward, Ben Seybold and Keith Greer represented Realco, while Casey Mungo of Daum Commercial represented the buyer.

January 17, 2018

California Industrial Western

Westcore Buys Cold Storage Facility in California for $12.7M

by Nellie Day January 17, 2018

PLEASANTON, CALIF. — Westcore Properties has purchased a 98,000-square-foot cold storage facility in Pleasanton for $12.7 million. The facility is located at 5675 Sunol Blvd. Westcore will invest in upgrades throughout the Pleasanton property, including refurbishing the office space interiors and improving buildings systems, prior to leasing efforts. The firm acquired another East Bay property in Antioch in late 2017. Mike Quint of Jackson & Cooksey and Mark Pleis of Lee & Associates represented the seller, JDS Properties, while Westcore represented itself in this transaction.

January 17, 2018

California Retail Western

Faris Lee Arranges $3.2M Sale of Starbucks Property in Fontana, California

by Nellie Day January 16, 2018

FONTANA, CALIF. — Faris Lee Investments has arranged the $3.2 million sale of a newly developed, 2,500-square-foot property triple-net-leased to Starbucks Coffee in Fontana. Christopher DePierro and Jeff Conover of Faris Lee arranged the transaction on behalf of the seller, Puente Hills Power Center LLC. Matt Brooks of Faris Lee represented the buyer, Fata Organization LLC. The single-tenant property is an outparcel of Palm Court Center, a 630,000-square-foot power center anchored by Super Target, Ross Dress for Less, T.J. Maxx and 24 Hour Fitness.

January 16, 2018

California Industrial Western

Independent Trading Co. Buys 181,069 SF Industrial Property in California for $32.5M

by Nellie Day January 15, 2018

FULLERTON, CALIF. — Independent Trading Co. has purchased a 181,069-square-foot industrial property in Fullerton for $32.5 million. The building is located at 4150 N. Palm St. The asset features amenities like 6,984 square feet of office space, 32-foot clear height, dock-high loading, a large truck court and ESFR sprinkler system. Independent Trading Co. is relocating to North Orange County from Whittier. DAUM Commercial Real Estate Services represented the buyer, while CBRE represented the seller, Western Realco, in this transaction.

January 15, 2018

California Office Western

Shorenstein Properties Purchases U.S. Bank Tower in Sacramento

by Nellie Day January 12, 2018

SACRAMENTO, CALIF. — A fund sponsored by Shorenstein Properties has purchased U.S. Bank Tower, a 366,000-square-foot office building in Sacramento, for an undisclosed sum. The 25-story tower is located at 621 Capitol Mall. U.S. Bank Tower is situated immediately south of the Golden One Center, which opened in late 2016, and three blocks west of the state capitol. The property also features more than 23,000 square feet of fully occupied retail and restaurant space, including Morton’s the Steakhouse, and a large parking structure that services both the property and the Golden One Center. JLL represented the sellers, David S. Taylor Interests and Britannia Pacific Properties, in this transaction.

January 12, 2018

California Office Western

Vista Investment Group Acquires Silicon Valley Office Campus for $113M

by Nellie Day January 12, 2018

CAMPBELL, CALIF. — Vista Investment Group has acquired Vasona Technology Park, a 314,256-square-foot office campus in the Silicon Valley submarket of Campbell, for $113 million. The campus is situated on an 18.5-acre site bordered by Winchester Boulevard, East Hacienda Avenue and Dell Avenue. Vasona Technology Park is fully leased to tenants like the Kaiser Foundation Health Plan and ChargePoint. Vista plans to reposition the older buildings at the park into a more creative office standard, using the expansive campus setting featuring one of the largest contiguous land sites in the area.

January 12, 2018

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